Real GDP per capita:
A. cannot grow more rapidly than real GDP.
B. cannot grow more slowly than real GDP.
C. necessarily grows more rapidly than real GDP.
D. can grow either more slowly or more rapidly than real GDP.
D. can grow either more slowly or more rapidly than real GDP.
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The text describes various pricing strategies that oligopolists use. Which of the following is not one of these strategies?
a. game theory b. price leadership c. kinked demand d. cartel e. trial and error
Lower wages for women relative to those for men constitute wage discrimination if women earn lower wages:
A. but are equally productive. B. and have lower productivity than men. C. in clerical and service occupations. D. due to career interruptions to raise children.
The seller of an option has the ________ to buy or sell the underlying asset while the purchaser of an option has the ________ to buy or sell the asset
A) obligation; right B) right; obligation C) obligation; obligation D) right; right
Explain why an economist would focus on real GDP rather than nominal GDP?